JTO Price Skyrockets 70% in May, Will it Reach a New ATH When Listing on Coinbase?

Bittime - On May 9, Coinbase International announced that it would list JTO, JUP, and TNSR on its futures platform on May 16. Since this announcement, the price of Jito (JTO) has jumped significantly, making its increase in May reach 70%. 

So, after listing JTO on Coinbase will the price of this token reach a new ATH? Check out the predictions in this article.

Even more interesting, JTO price is currently only 13% below its all-time high (ATH). Can JTO maintain momentum and reach a new ATH , or will a price correction occur first? Let's wait and see.

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JTO Nears All-Time High

JTO price has been increasing following an ascending support trend line since the beginning of the year. JTO price has bounced off this trend line three times since April (green icon), creating a long lower wick each time.

Also read: Jito (JTO) Skyrockets More than 150%, This is the Reason! 

The last occurred on May 1, resulting in a bullish hammer candle and a breakout of the descending resistance trendline the following day. Shortly afterward, JTO rose above the $3.70 horizontal area, the last area before the ATH.

JTO price today reached the 0.786 Fibonacci retracement resistance level of $4.55. If it closes above it, there will be no more resistance until the all-time high of $5.33.

Both RSI and MACD are bullish and trending up. The RSI is above 50 while the MACD is above 0, both crossing the threshold for a bullish trend.

Also Read How to Buy Crypto:

JTO Price Prediction: Will The Rise Become Parabolic?

The 12-hour JTO price chart shows that since the April 13 bull run, JTO has accelerated its rise twice, creating a steeper support trend line (black). If this trend continues, it could signal the formation of a rally and parabolic trend line (yellow).

Also read: Retaking: A Complete Guide to Understanding the Role of Jito Labs 

If so, JTO could be in the third wave of a five-wave (white) rise, which is often the sharpest bullish wave, resulting in a parabolic trend line forming.

The first target for the top of the third wave is at $5.96, giving a ratio of waves one to three of 1:1.61. Then, the target for the entire upside is at $7.27. 

This target is obtained from the 1.61 Fibonacci external retracement of the previous decline. Both targets would be new all-time highs.

However, remember, this bullish JTO price prediction could be invalidated if the price closes below the parabolic line. In that case, JTO could fall to the nearest support at $3.

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JTO Rally Predicted to Continue

JTO prices have increased significantly in May, and will likely continue to do so. Since there is no more resistance left until the ATH, the JTO rally could soon go parabolic. If the price reaches a new ATH, the next resistance will be at $5.96 and $7.27.

How to Buy Jito (JTO) on Bittime

You can buy and sell Jito (JTO) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

Jito (JTO) is available on Bittime with the market pair JTO/IDR. To be able to buy JTO IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn the complete guide on how to buy Jito (JTO) on Bittime. 

Monitor the price chart movements of Jito (JTO), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also read:

JTO (Jito Coin) Price Prediction 2024-2030: Will JTO Reach $10?

Jito (JTO) Leads the Solana Ecosystem with a TVL Value of $1.4 Billion

Jito Airdrop: Complete Guide for Beginners to Get Free Crypto Tokens

Solana Crypto Shines: Big Profit Opportunities on JUP, JTO, and PYTH?

DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.